According to the report published by Allied Market Research, the global hydrazine market generated $510.95 million in 2020, and is projected to reach $806.09 million by 2030, witnessing a CAGR of 4.7% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Increase in need for agrochemicals and rise in demand for high-quality agricultural products drive the growth of the global hydrazine market. However, presence of extreme toxicity in hydrazine that can cause seizures & tumors and various environmental and industry regulations imposed by the National Institute for Occupational Safety and Health restrain the market to some extent. On the other hand, rise in demand for polymer foams from the polymer industry presents new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to the implementation of global lockdown and temporary closure of operations of the chemicals industry, thereby affecting the overall growth of the global hydrazine market.
- Restrictions on international trade caused disruptions in the supply chain, which in turn, declined the demand in the market, especially during the initial period.
- However, demand for hydrazine hydrate in pharmaceutical and water treatment segments did not affect by the crisis.
The report offers detailed segmentation of the global hydrazine market based on product type, application, and region.
Based on application, the blowing agent segment held the largest market share in 2020, holding nearly one-third of the total market share, and is expected to continue its leadership status during the forecast period. The report also analyzes the segments including water treatment, agrochemicals, pharmaceuticals, and others.
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Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 5.6% during the forecast period. Other regions discussed in the report include North America, Europe, and LAMEA.
Leading players of the global hydrazine market analyzed in the research include Arkema Inc., Bayer AG, Fisons plc, Arrow Fine Chemicals, Arch Chemicals, Inc., Nippon Carbide Industries Co. Inc., Japan Finechem Company, Inc., Lanxess AG, Lansdowne Chemicals, and Hidkim.
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